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<Research>JPM Expects CX to Benefit from High Ticket Prices in ST, Offset by Higher Oil Prices
Recommend 8 Positive 12 Negative 5 |
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CATHAY PAC AIR (00293.HK) is set to announce its 2025 results today (11th). The Iran conflict impacted the global aviation industry, leading passengers and shippers to reroute through Singapore, Hong Kong and other Asian hubs, according to JPMorgan's research report. The share prices of CATHAY PAC AIR and Singapore Airlines (SIA) both declined, yet the two airlines could outperform other global peers due to their strong balance sheets, prudent fuel hedging, flexible route networks and unique access to key channels, the broker noted. JPMorgan believed that both companies can be supported in the short term by high ticket prices and higher freight yields, although this is offset by oil price trends. Although their fuel hedging provided short-term cushioning, it remained below the level of European peers, limiting profit margin protection in a volatile fuel environment. Therefore, the broker kept ratings at Overweight on CATHAY PAC AIR/ SIA, with target prices of $18/ SGD8.4, respectively. AASTOCKS Financial News Website: www.aastocks.com |
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